The World Bank on Wednesday approved US$ 53 million credit for its first integrated e-development project, the e-Sri Lanka project-a comprehensive programme of leveraging Information Communication Technologies (ICT) to improve public service delivery, increase private sector competitiveness, promote new sources of growth, accelerate social development, bridge the digital divide and support peace.
The bank is providing the loan on standard IDA (International Development Association) terms, with 40 years maturity and a ten-year grace period.
“This is an exciting programme and we are delighted to be able to provide support for it. It supports the three key aims of our country strategy: it underpins peace by connecting the north and the south; it enhances the prospects for growth, not only in the IT sector itself, but also by raising productivity growth in other sectors; and it advances the cause of equity, by improving the access of the poor to a range of public services,” the bank’s country director Peter Harrold said.
The proposed project is expected to be implemented over a five-year period beginning November this year.